Several surveys are being carried out by the European Government regarding the readiness of the entrepreneurs across the European Union for the upcoming General Data Protection Regulation. A survey was conducted in the recently held Data Summit event at Dublin for two days, comprising of research on 150 business organizations in the country of Ireland. This research revealed that about 66% of these companies do not actually know which measures to take to fall in the compliance category of GDPR. The department of Taoiseach and the Government Data Forum gave the duty of this survey to the iReach.
This significant General Data Protection Regulation for the European Union is established as a replacement of the Data Protection Directive for the purpose of implementing uniform data privacy laws for the entire European nation. This law will be implemented in May next year and the organizations of the European Union and other member states will have to follow it as an obligation from the first day of its commencement. In case, any company that fails to abide by this legislation will suffer with a heavy penalty of 20 million pounds. Therefore, it is crucial for all European organizations to thoroughly understand the principles of GDPR.
GDRP has been shaped to reality after constant efforts and negotiations of four years and will be followed in place of the former Data Security Law, which gave the leniency to be gradually followed by all the companies existing within the bounds of the continent of Europe. Cyber security specialists have already warned all the companies to take GDPR very seriously and start preparing themselves on the lines of the ninety principles of GDPR to escape from its harsh after effects in case they do not abide by the data privacy laws for the citizens of the European Union.
During this iReach Survey, it was found that more than 45% of the Irish Companies are uncertain about bearing the liabilities applied by the GDPR and almost 62% businesses are even not sure that whether their privacy policies have any compliance with the General Data Protection Regulation system. They are not even sure about their CCTV footage system and fail to deliver the details of the actual number of days their cameras are able to retain their customers’ details.
The good thing about the Data Summit is that it will facilitate the organizations for improving their preparation for the upcoming GDPR for a better survival and a gigantic positive change in Europe with this reform.